Individuals and even businesses are not spared from different types of online scams. Scammers evolve and advance along with the sophistication of technology. A 2023 survey on personal finance conducted in the Philippines showed that 50% of respondents who experienced digital fraud attempts were targeted with phishing attacks. Furthermore, 42% of respondents were targeted with smishing or phishing using text messages.

Scammers now have more channels to reach their next prey. If you are into investing but clueless about these fraudulent schemes and how to spot them, you will be an easy target for them. Here are some tips that will prevent you from falling prey to scammers.

#1. Investigate: Before transacting with a person, get the facts straight. Know who you are dealing with and look for the physical address of their company. Legit companies usually have a brick-and-mortar address. When you have concerns about a transaction, you’ll have peace of mind knowing that you can reach them through their brick-and-mortar address.

#3. Find a trusted company: Protect your investment by choosing a company with integrity. Trust only those with the track record, longevity, and integrity to only offer what their products and services can deliver instead of false promises.  

#4. If it’s too good to be true, it probably is: All investments come with a certain risk. Offers that guarantee huge returns or claim to be risk-free are warning signs that you should not disregard. Stay level-headed and sensible to avoid getting into fraudulent transactions.

• Stick to what you can afford to set aside. 
• Check the past performances of the investment offered.
• Be realistic when it comes to how an investment can earn overtime.

The promise of risk-free investments is inviting but it’s better to think before you act. Investing is about taking a risk. Once you enter an investment, you must also be prepared to lose some at one point. There’s no such thing as free money. It is more important to have an honest and transparent company who can managecontrol and make the most of your investment.

#5. Know when to say “NO”: Investing and recruiting are two separate entities. If you are offered an investment that requires recruitment to earn, it’s best to say NO. Do your research to learn more about the company. Know their processes and look for their success stories. When warning signs persist, don’t hesitate to turn down an offer.

You can be better than the scammer!

At a time when there are several opportunities for easy money, you have to be extra cautious. Invest with legitimate businesses only and transact with people of integrity.

Sun Life ticks off the list when it comes to finding a reputable investment partner you can entrust your hard-earned money to:

B - rick and mortar office. Sun Life has a physical business address that you can check with the Securities and Exchange Commission (SEC).

R - registered. The company operates with the required business permits and licenses from authorities.

I - ntegrity. Since 1895, Sun Life has remained a reputable financial company trusted by generations.

G - rounded. Sun Life and its trusted advisors are grounded in reality and offers realistic investment returns.

H - onest. The company remained honest in its dealings – no false promises or unrealistic expectations. 

T - rust. Throughout the years, Sun Life remains the top choice of investors who are after a secure and bright financial future.

Know the investment opportunities offered by Sun Life. Talk to a financial advisor today. 

Also read: Recognizing Fraud